what will happen to banks?

[Nanot]

Since banks profit from fees and blockchain will kill fees, my guess is banks will be negatively impacted.
Some banks are already stepping into the blockchain world.
But blockchain will not bring back the profits as otherwise.
Any thoughts?
Apologies if this is not the right place to discuss.
Thanks in advance.

Yes your thought that you are discuss is so true because nowadays  banks is not already safer than before. We can also defined banks  as not safe this time because thier are too many scenarios that  it falls it secures so that many money loses. Bitcoin investments and others or such as electronic banks is safer than banks. So maybe i guese that banks can be lose its value because of this.

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[Nikola95]

Activities of Bitcoin or the cryptocurrencies will not make banks disappear completely. It will expectedly render the banks less important just like what email did to the postal services. It is important to point out here that it is not true that blockchain transactions are free of fees as argued by the OP. There isn't any free lunch anywhere. We do pay a certain fee (just like we do with banks) to enable crypto transactions go through.

Only, by my opinion, there is small chance that these crypto coins are going to make banks less important, like what email did to postal services. Because every person on planet is affected by banks. Every business is controlled by banks. You can't marginalise such thing easily.

[pprun]

Banking thinking is always what is the gain, the profit to increase the bank net. I think banks in the world now is in the middle to decide in this cryptocurrencies effect to people's lives and to the economy of one country.

[sandwichman1]

what happens to the bank? they do like us, they take advantage of bitcoin and speculate with a lot of means and get even more in their pockets

[mahilchii]

Banks are just like stock brokers who use our fiat and earn profir in terms of fees and charges. They will stick to block chain technology for sure since few banks have already started but they won't doe decentralization or peer to peer like here in crypto currency. They will find a way in block chain technology to survive it seems.

[millionaireshs]

Since banks profit from fees and blockchain will kill fees, my guess is banks will be negatively impacted.
Some banks are already stepping into the blockchain world.
But blockchain will not bring back the profits as otherwise.
Any thoughts?
Apologies if this is not the right place to discuss.
Thanks in advance.

I think Bitcoin will only lessen the users or investors of the banks. However, it will not affect the profit of the bank hardly.
Even there are many people patronizing cryptocurrency there are still people who are not believing or not using It fully. They are more strategic in their move, they might devide their money to several places like banks or through blockchain.

[mornabo]

Since banks profit from fees and blockchain will kill fees, my guess is banks will be negatively impacted.
Some banks are already stepping into the blockchain world.
But blockchain will not bring back the profits as otherwise.
Any thoughts?
Apologies if this is not the right place to discuss.
Thanks in advance.

Yes your thought that you are discuss is so true because nowadays  banks is not already safer than before. We can also defined banks  as not safe this time because thier are too many scenarios that  it falls it secures so that many money loses. Bitcoin investments and others or such as electronic banks is safer than banks. So maybe i guese that banks can be lose its value because of this.

that is not true, I myself use the bank from the government for a long time and I have never experienced any loss, I keep most of my money in the bank and there is never a problem, the security in the bank is also getting better nowadays, and besides fee is not a problem if the transaction interbank happens very quickly / instant, I do not think that the bank has a complicated problem, in fact we are all still dependent on the bank

[bravetheheat]

Bank will exist for a long time, just like you cannot really replace our currency by Bitcoin, Bitcoin can be used in Internet and web world, but in our real life, paper money has its benefits, will exist for a long time. Just Youtube and traditional TV will exist a long time.

[Carlsen]

I don't think that banks have a problem if people take money from their account and invest it in bitcoins.
But what could become a problem for banks is when people take a loan from the bank, but that money in crypto currencies and lose it this way.
The mortgage crisis started in a similar way. Too many people got money they could not pay back.
Of course it would bethe obligation of the bank to look carfully if the person asking for a loan should be granted one.

[budakjawa]

Since banks profit from fees and blockchain will kill fees, my guess is banks will be negatively impacted.
Some banks are already stepping into the blockchain world.
But blockchain will not bring back the profits as otherwise.
Any thoughts?
Apologies if this is not the right place to discuss.
Thanks in advance.

I can not predict what will happen with the bank completely if the bank does not accept or can cooperate with bitcoin technology it seems they will lose their customers.

[South Park]

Since banks profit from fees and blockchain will kill fees, my guess is banks will be negatively impacted.
Some banks are already stepping into the blockchain world.
But blockchain will not bring back the profits as otherwise.
Any thoughts?
Apologies if this is not the right place to discuss.
Thanks in advance.

Banks are going to survive, they are just going to adapt and learn how to manipulate people to keep using them, we do not even need banks now and people keep using them so I'm sure they are going to find a way to trick people into thinking they need banks to secure their bitcoin.

[Hernandezz]

I think blockchain is a new form of bank in the future, so the possibility of fiat banks will not follow the path of bitcoin because banks are looking to profit from deposited customers' money.

[jak3]

Banks make a profit based on there tax system recharges all type of tax from income tax to tax on sending money. They charge money for everything from us. Banks are constantly experimenting with the blockchain technology and if they get success then they can improve their transaction system but they are not going to the lower their fees. All I can say is banks are preparing themselves to get destroyed and close the banks which are constantly winning in this war for around 500 years.

[South Park]

Banks make a profit based on there tax system recharges all type of tax from income tax to tax on sending money. They charge money for everything from us. Banks are constantly experimenting with the blockchain technology and if they get success then they can improve their transaction system but they are not going to the lower their fees. All I can say is banks are preparing themselves to get destroyed and close the banks which are constantly winning in this war for around 500 years.

The banks are definitely parasites of society, but they have become so big that destroying them may affect the world as well, since governments are allied with the banks, after all if they were not then things could not have been progressed and arrive at this point, so I have my doubts banks are going to disappear completely.

[Sand King]

banks should not use the tax because we simply stop using them

Banks is we will remain in this world because banks has many function in this wolrd and many people or almost all people in thi world are trusting banks because there money is very safe with banks and banks is already in this world for manh years so i know that it can not replace.

[redsap]

what is a bank?

it is just a service that is offered on money. these services are so many different things. such as loans, credit cards, savings account, Checking accounts, other types of account i don't know the name of in English , Insurance stuff, Mortgages, Safty Deposit boxes, ...

banks doesn't have to be affected by bitcoin or bockchain technology. it is just a different form of money!

agree with that, bank doesn't affected by bitcoin or blockchain technolgy if any bank using blockchain technolgy it just a tech they use not a cryptocoin it self
and they will survive because every people need that to save their money in safe place and in some countries withdraw money from exchanger need bank account

[matedrink24]

I think blockchain is a new form of bank in the future, so the possibility of fiat banks will not follow the path of bitcoin because banks are looking to profit from deposited customers' money.

Yes, corruption not only shows up in the goverments, it shows up in the banks also , so blockchain system will help the banks to spot the fake and corruptions in the system.

[pandanaran]

The bank is supported by the government or even the government's own agency, I do not think the government will stay silent if one of their financial resources is lost, but I think now we still need the bank to pay for our needs, since fiat is the legal currency for payment.

[ainunfm]

Since banks profit from fees and blockchain will kill fees, my guess is banks will be negatively impacted.
Some banks are already stepping into the blockchain world.
But blockchain will not bring back the profits as otherwise.
Any thoughts?
Apologies if this is not the right place to discuss.
Thanks in advance.

i am sorry, blockchain used by banks to use the technology of it, because blockchain is transparent and fast transaction and i think banks will greatly get profit from people, think of it if many new user in bitcoin then they safe their real money in where ? it will increse bank customers itself and getting tax with it

[ReindeerOnMe]

The bank is supported by the government or even the government's own agency, I do not think the government will stay silent if one of their financial resources is lost, but I think now we still need the bank to pay for our needs, since fiat is the legal currency for payment.

That is right, the governments will not let this happen. Also, Banks can just accept bitcoin since there will come a time where a lot of people are now using digital currencies, if they will not accept digital currencies to be saved then I think a lot of people will be visiting and using less banks more and more. For now, coping with this technology is the right thing to do.